Todd Asset Management LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Apr 28th, 2023

Todd Asset Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,314 shares of the information services provider’s stock after selling 246,264 shares during the period. Todd Asset Management LLC’s holdings in Alphabet were worth $21,732,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. DC Investments Management LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the first quarter worth $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at $206,000. Eudaimonia Advisors LLC boosted its holdings in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new position in Alphabet in the first quarter worth approximately $281,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.7 %

GOOGL opened at $107.59 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a market capitalization of $1.38 trillion, a PE ratio of 23.64, a P/E/G ratio of 1.44 and a beta of 1.10. The stock’s fifty day moving average is $99.94 and its 200-day moving average is $96.57.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.97%. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 5.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOGL shares. Citigroup upped their target price on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday. Oppenheimer lifted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price on shares of Alphabet in a research report on Monday, April 3rd. Stifel Nicolaus began coverage on Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Three research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $130.06.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares in the company, valued at approximately $2,524,913.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The disclosure for this sale can be found here. Insiders sold a total of 100,539 shares of company stock valued at $10,209,164 over the last quarter. Company insiders own 11.44% of the company’s stock.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.